Forbes names Color Kinetics among 25 fastest growing tech companies for second consecutive year
Boston, Massachusetts USA-- Color Kinetics Incorporated, a leading innovator of LED lighting systems and technologies, today announced its inclusion among Forbes' annual list of the country's 25 fastest growing technology companies.
The winners represent the top performers among 2,200 public U.S. tech stocks, and Color Kinetics was one of just 11 to land the distinction for the second consecutive year.
"This achievement marks the perfect start to our 10th year in business, highlighting our ability to sustain growth while investing back in the key areas of technology innovation, product development, OEM and licensing programs, marketing and salesforce expansion to remain a recognized leader in LED lighting," said Bill Sims, President and CEO, Color Kinetics.
"Ten years ago, it may have been unthinkable for a lighting company to appear on a list of top performers in the technology sector, but we've shown that there's more to our industry than bulbs and fixtures. We believe that LEDs will profoundly shape the future of light -- not only in the way that it's controlled and applied, but in mitigating strain on our energy resources and environment. The technologies and intellectual property at the core of our business will continue to help guide this exciting transformation," said Sims.
Color Kinetics ranked #22 on the list with 35% EPS growth -- the fourth highest rate among the winners -- and 32% growth in five-year sales.
To qualify for the list, companies must have at least $25 million in sales, 10% annual sales growth for five consecutive years, profitability over the past 12 months, and 10% estimated annual profit growth for the next three to five years.
The complete list appears in the February 12 issue of Forbes and is accessible at www.forbes.com
About Color Kinetics
Color Kinetics Incorporated (Nasdaq: CLRK - News) transforms environments through new, dynamic uses of light. Its award-winning lighting systems and technologies apply the benefits of LEDs as a highly efficient, long lasting, environmentally friendly, and inherently digital source of illumination -- reinventing light itself as a highly controllable medium. Color Kinetics also enables widespread adoption of LED lighting through OEM and licensing partnerships in diverse markets. The company is headquartered in Boston, MA with offices in the UK and China. More information is available at http://www.colorkinetics.com.
